What is Tronix?

Tronix is a cryptocurrency that allows people to be compensated for the content they produce. The platform is fully decentralized to offer the enjoyment of different kinds of entertainment, while providing direct pay to producers without any middleman.

The group got their start in 2017 and operates as a non-profit out of Singapore. Their goal is to prevent the need for 3rd parties which can store producer’s content and make up rules as they go along. Policy concerns from major groups like Facebook and Google are abandoned, allowing for there to be more control for content producers.

Fundamentals of Tron

With this fully decentralized system users no longer have to worry about corporate control from sponsors who retain personal information, and who make changes that may not reflect user’s best interest. Tron also has a lot of different features that they specialize in.

Main Function of Tron

Prevent the storage of data from being sourced in one single location by media giants. They use the phrase “data liberation” to help support the upload of all media including audio, video, characters, and images.

Content enabling through stimulating an economy where content producers are able to be compensated for their efforts.

There’s also a personal ICO where content users can purchase digital assets.

A 4th major goal is to have an infrastructure where there is autonomous gaming and the exchange of digital assets.

Token and TRON Power

They use the Tron 20 token for people who are in the system already and who want to make their own custom tokens. This is meant more for long-term monetary gains and is a way to prevent people from selling only to gain a profit, which would not benefit Tron as a whole. These tokens allow people to make decisions and vote. For those invested in Tron it also gives more accumulated power to their TP or TRON Power.

How TRX Functions

The emphasis of this system is to sustain itself all the way into 2023 and beyond. They plan to distribute 4 different phases as the year’s progress.

Specific Details

In nearly a decade long period the company hopes to use different types of blockchain technologies, all starting with Exodus.

First Stage: Exodus

This is a free system that allows P2P distribution and storage. Although this is considered their first phase, they are starting of basic with simple file sharing before ramping up towards the more ambitious Odyssey.

Second Stage: Odyssey

This stage is projected to begin on January 2019, and end in June 2020. Content creators are given funds through a tipping mechanism which prevents accumulating gained from simple views. This limits the amount of clickbait and bots which may be improperly inflating the worth of content.

It’s meant to be enticing for people to jump on this platform as early as possible for forward traction.

3rd Stage: Great Voyage and Apollo

They plan to have this last from July 2020 to March 2023. TRON at this point will have to use their blockchain. This gives content creators an opportunity to gain their own income through ICO’s they make.

Fifth Stage: Star Trek

It’s projected to begin April 2023 an end in September 2025. This offers a gaming platform and decentralized forecasting.

Final Stage: Eternity

This is technically the final stage but it does push on with an emphasis on gaming. It’s set to last between September 2025, and finish on September 2027. This relies on whether or not Tron as a whole continues to grow. It refocuses on the community and its resourcefulness of getting monetization.

Fundamentals of TRX

The CEO of Tron is the vocal Justin Sun which was the creator of Alibaba. He was featured in Forbes “30 Under 30” twice, and has worked on many other major projects.

The ICO for TRX was a quick success, taking 21 days to reach their necessary funds.

Tron has partnered with major Chinese companies including Bixin, FBG Capital, and many others. In their team they have the founded of ChinaEquity Group, the founder of Clash of Kings, and a partner at FBG Capital.

They currently accept any other form of crypto but in the future will only allow TRX.

The TRX Coin

TRX has a total supply of 100,000,000,000 and they are not minable.

A total of $34.2 billion tokens are locked until January 2020 which is speculated to increase its total value.

TRX Trade

As an alt coin TRX is receiving a lot of traction and they once peaked at around $0.25. Graphs show that it has stabilized to about $0.046 and it has increased since its initial launch.

Buying Tron

A few different marketplaces offer it including:

Huobi

Binance

Liqui

CoinEgg

Bitfinex

HitBTC

OKEx

Coinnest

Also quite a few other marketplaces odder it for trade with major crypto coins and some even offer fiat currency exchange.

Storing Tron

Different wallets exist including any wallet which already accepts Ethereum like MEW and a Nano S or Trezor.

Tron vs Ripple

Ripple offers a currency exchange that is supposed to be both fast and secure. This is being used by many financial institutions and has gained a lot of popularity for an alt coin. This is offered at a lower than average fee for what it would cost to wire money from bank to bank.

Tron vs Verge

Verge is a cryptocurrency that aims to prevent the loss of sensitive and private information by making transactions fully private. This is completely open sourced and unlike other groups, is not run by any official company. It operates as a fully decentralized and anonymous way to send off any transactions.

Tron vs Stellar

Stellar offers a payment network which uses a global exchange. This is useful for businesses and nonprofits that need to have a proper ledger. They have partnered with IBM in order to make global transactions easier, limiting the time needed to finish a trade. Stellar has also increased in popularity as a more known alt coin.

Tron vs Ethereum

Ethereum is a popular and major coin that uses a different blockchain than Tron. With Tron there is a specialization in entertainment. With Ether people are able to make transfers using a fully decentralized platform. This has been around since 2015 and has risen in its use. It also emphasizes smart contracts and many different DApps take advantage of this system.

Tron vs Bitcoin

Bitcoin serves a much difference use than Tron as it’s used as a way to send online currency. At this time Bitcoin is still the most recognizable and most often traded form of crypto, and because of this popularity, its total price is still much higher than other coins. Tron does offer the alt coin TRX however, which is looking to start ambitious goals.

Tron FAQ

Where can I find Tron coin news?We recommend simply typing in Tron on your browser as it will have updated and popular news articles.

What is Tron coin?It is known as TRX and it is used on the fully decentralized blockchain known as TRON.

What’s a good Tron wallet?Any secure Ethereum wallet would be a good source including hardware like a Trezor or Nano.

Summary

Tron has received a lot of attention as a potentially successful alt coin due to its CEO and its ambitious roadmap. It hopes to offer a way for content creators to be fully compensated for their efforts, as well as preventing the sudden changes which can occur from major media giants who may not have user’s best interest in mind.

This opens up the possibility for people to also be paid for the quality of their content instead of relying on clicks per view, or of dealing with competitive bots who may look to inflate the amount of interest. There’s also the future potential it may serve for gamers looking for a decentralized platform. With its unique infrastructure and ambitious plans for the future, there’s a lot of intrigue surrounding Tron.

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Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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